After reaching the 50.00% level, the pair started making a U-turn to the south. The retracement can be measured by connecting the January low at 1.6520 and the December high at 1.7480.
Meanwhile, in the 1H time frame there is already a breakout from a pattern, which can be observed on the chart. The currency exchange rate is likely to continue south until it finds support at the weekly level at 1.6690.
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